Learn common trade jargon and abbreviations
Over 30 Pubs trade abbreviations
This page will help you with understanding pub sector trade terms and common jargon.
If you are new to the trade you’ll need to know your FMT from your REO.
We understand here at Pubs Advisory Service that the pubs trade language and terms can be daunting. Use this short guide below to break down common abbreviations and pub trade jargon. Click on the links to read more about the terms in context.
- BBPA – British Beer and Pub Association (Pubco trade body non-tenants).
- BDM – Business Development Manager.
- BEISCOMM – Business, Energy and Industrial Strategy Committee.
- BII – British Institute of Innkeeping.
- BRM – Business Relationship Manager.
- CCO – Code Compliance Officer (Pubco employee responsible for overseeing pubs code compliance).
- CTCU – Cellar Temperature Control Unit.
- Dry Rent – The rent usually expressed in a yearly figure.
- E&ID – External and Internal Decoration.
- FAB – Flavoured Alcoholic Beverage.
- FMOP – Fair Maintainable Operating Profit.
- FMT – Fair Maintainable Trade/Turnover.
- FRI – Full Repairing and Insuring.
- IFBB – Independent Family Brewers of Britain.
- L&T – Landlord & Tenant (usually refers to the L&T Act 1954).
- LYMAT – Last Year Moving Annual Total.
- NPBD – Net Profit before Divisible Balance.
- PCA Arbitration – A statutory system of dispute resolution (sometimes called a referral).
- PDM – Profit Development Manager.
- POB – Pub Owning Business (a Pubco under the code).
- PRA – Parallel Rent Assessment (method to ensure Pubs are no worse off).
- Pubco – Pub Owning Company (includes brewing as well as non brewing companies).
- Pubs Code – The statute and regulations that governs the “Big 6” pubcos.
- Rent Assessment – usually refers to a contractual right to have a rent altered for the next 3 to 5 years, sometimes called rent review
- Rent Proposal – usually refers to a new rent offer made at the renewal of a lease
- REO – Reasonably Efficient Operator.
- RICS – Royal Institution of Chartered Surveyors.
- TYMAT – This Year Moving Annual Total.
- VOA – Valuation Office Agency (they set the rateable value of pubs).
- Wet Rent – The extra you pay on supply tied products above normal free of tie wholesale pricing.
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